The central measured tension in this ZIP is that the current Zillow asking-rent index is $3,295, while the matched ACS median gross rent is $2,669, a 23.5% difference across unlike rent universes. A mechanical 30% rent-to-income calculation translates the asking-rent index into $131,800 of required annual household income, compared with ACS median household income of $76,583. That gap does not determine what any household can pay or qualify for, but it frames an affordability screen in which the current asking-rent snapshot is materially above the survey measure of occupied renter homes.
Rent history remains positive but has slowed relative to its longer path. The exact same-month one-year change was 1.7%, versus 2.3% annualized over three years and 4.1% annualized over five years. Thus, recent direction confirms continued growth rather than a reversal, while the one-year pace falls below both longer-period measures. Monthly ZORI returns produced 2.8% annualized variability, which supports somewhat more confidence in the current index than a highly erratic series would. Separately, the maximum drawdown was 6.3%, showing that declines have occurred despite the longer upward record. History coverage was 100% across 138 observations. Transparent national discovery ranks among history-eligible ZIPs were 1,507 for momentum, 1,217 for stability, and 1,398 for the balanced measure; lower ranks are stronger. These are backward-looking measurements, not forecasts or investment recommendations.
The bedroom ladder is a set of modelled estimates rather than measured bedroom rents. Scaling ZIP Zillow ZORI by the local HUD FMR/SAFMR ladder produces monthly estimates of $2,555 for a studio, $2,723 for one bedroom, $3,295 for two bedrooms, $4,334 for three bedrooms, and $5,015 for four bedrooms. The local HUD two-bedroom administrative standard is $3,070, placing the modelled two-bedroom estimate 7.3% above that benchmark. HUD FMR/SAFMR is a bedroom-specific administrative standard, not an asking-rent observation, so this ladder is useful for proportional screening only and cannot substitute for unit-level listing evidence.
The ACS housing picture describes the matched statistical area rather than individual buildings. Its estimated population was 51,675 and its housing stock totaled 20,295 units, including 12,529 units in large multifamily structures. Renters occupied 67.5% of occupied homes, while the estimated vacancy rate was 17.4%. The survey also found that 66.6% of renter households paid at least the burden threshold share of income toward rent. Those figures identify broad household and stock conditions, but neither vacancy nor rent burden proves availability, condition, lease terms, or affordability for a particular unit.
Wider benchmarks reinforce that this ZIP’s asking-rent index sits above several surrounding-context figures, without making those figures substitutes for ZIP evidence. In Los Angeles city context, the rent measure was $2,773 and the vacancy rate was 7.4%; in Los Angeles County context, rent was $2,808 and the two-bedroom HUD standard was $2,903; and in the Los Angeles-Long Beach-Anaheim, CA metro context, rent was $2,927, apartment vacancy was 5.4%, and the rent-to-income measure was 36.6%. City, county, and metro values are context for their respective geographies, not ZIP rental comparables or evidence of conditions at an individual property.
Redfin’s direct rolling-three-month ZIP resale observation provides a different tension: the median sold price was $1,299,706, up 1.9% year over year, with 96 homes sold and a median 75 days on market. Inventory was 184 homes, an increase of 29.5%, and months of supply stood at 5.8. Sale-to-list evidence remained restrained, with an average sale-to-list ratio of 97.1%, 14.0% of sales above list, and 18.9% of listings going off market within two weeks. This is for-sale market evidence, not rental transactions. The 3.0% annualized-ZORI-to-median-sold-price screening ratio is only a cross-source screen, not a cap rate, property yield, net return, or expected return. Resale price growth broadly aligns with positive rent history, but added inventory, longer marketing time, and below-list average sales challenge any simple tight-market reading.
The five-digit label 90024 is both Zillow’s ZIP market identifier and a Census ZCTA match; a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. Zillow ZORI is a typical observed asking-rent index blended across rental types. By contrast, ACS median gross rent is a five-year survey estimate for occupied renter homes and includes selected utilities, helping explain why it should not be treated as an asking-rent equivalent. HUD FMR/SAFMR remains an administrative standard rather than asking rent. Each source answers a distinct question, and the ZIP, survey, administrative, resale, city, county, and metro universes should remain separate.
Important limits remain at the property level. The rent history and resale measures are retrospective, the income screen is arithmetic rather than advice or an applicant qualification rule, and the bedroom ladder is modelled from a benchmark rather than observed unit rents. A specific record would need the actual advertised rent, bedroom count, unit size, lease duration, utility treatment, concessions, availability date, and comparable recent listings before it could be aligned with these aggregate measures. The practical unresolved question is whether a subject unit’s all-in terms resemble the current asking-rent index, the modelled bedroom estimate, or neither.
","findings":[{"body":"The ZIP Zillow asking-rent index exceeds the matched ACS median gross rent, but the difference should not be read as a direct overpricing measure. Zillow reflects a typical observed asking-rent index across rental types, while ACS reflects occupied renter homes and includes selected utilities. The spread is most useful as a signal to verify all-in advertised terms.","title":"Asking rent is above the occupied-home survey measure"},{"body":"Same-month rent history shows positive movement over one, three, and five years, with the shortest period growing more slowly than the longer annualized paths. Relatively limited return variability supports moderate confidence in the current snapshot, but the recorded drawdown demonstrates that historical rent movement was not uniformly upward.","title":"Growth persists, but the recent pace is slower"},{"body":"ACS indicates a renter-majority occupied housing base, a substantial share of large multifamily units, elevated vacancy, and a high share of renter households crossing the burden threshold. These indicators describe the ZCTA’s aggregate stock and households. They do not establish vacancy, concessions, affordability, or lease economics for any particular apartment.","title":"Rental household pressure and vacancy coexist"},{"body":"Redfin ZIP resale data show a higher median sold price year over year, but also increased inventory, substantial marketing time, and average sales below list price. That combination confirms some price resilience while complicating a simple scarcity interpretation. The rent-price screening ratio remains a cross-source comparison, not a measure of property performance.","title":"Resale liquidity is less uniformly firm than the rent narrative"}],"risks":["The current asking-rent index may not match a specific available unit because rental type mix, bedrooms, utility treatment, concessions, lease length, and listing timing can differ materially from an aggregate ZIP index.","ACS estimates describe occupied renter households in a matched ZCTA and carry survey uncertainty; they cannot be used as direct evidence that an advertised apartment is affordable, occupied, vacant, or representative.","The modelled bedroom ladder inherits the ZIP index and HUD proportional structure, so it may diverge from observed bedroom-specific listings when local unit mix, amenities, utilities, or leasing terms differ.","Redfin resale data concern for-sale transactions rather than rentals, and the screening ratio excludes operating costs, financing, taxes, maintenance, vacancy experience, property condition, and any unit-specific income assumptions."],"qa":[{"a":"They are different evidence universes. Zillow ZORI is a ZIP-level typical observed asking-rent index blended across rental types, whereas ACS median gross rent is a five-year survey estimate for occupied renter homes and includes selected utilities. Different timing, households, unit mix, and utility treatment can all produce a meaningful gap.","q":"Why does Zillow asking rent differ from ACS median gross rent?"},{"a":"No. They are modelled monthly ZIP estimates created by scaling the ZIP Zillow asking-rent index using the local HUD bedroom ladder. HUD FMR/SAFMR is an administrative, bedroom-specific standard rather than observed asking rent. A particular unit still requires direct verification of advertised rent, configuration, utilities, and concessions.","q":"Are the bedroom figures observed rents for available apartments?"},{"a":"It is a mechanical arithmetic screen that annualizes the ZIP asking-rent index and applies a 30% rent-to-income threshold. It is not financial advice, an applicant qualification rule, or evidence of what a landlord will require. Actual affordability depends on household circumstances, utilities, lease terms, subsidies, and the specific unit’s total charges.","q":"What does the required-income figure mean?"},{"a":"It divides annualized ZIP Zillow ZORI by Redfin’s ZIP median sold price, combining a rental asking-rent index with a for-sale resale observation. It can flag a broad cross-source relationship for screening, but it is not a cap rate, property yield, net return, expected return, or estimate of property-level economics.","q":"How should the Redfin rent-price screening ratio be interpreted?"}],"sources":[{"key":"apartment_list_time_on_market","name":"Apartment List Time on Market — listing liquidity","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/category/data-rent-estimates"},{"key":"apartment_list_vacancy","name":"Apartment List Vacancy Index — rental vacancy","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/apartment-list-vacancy-index-methodology"},{"key":"census_zcta_facts","name":"Census ACS five-year — ZCTA housing and income","release":"ACS 2024 5-year ZCTA","pulledAt":"2026-08-08","url":"https://api.census.gov/data/2024/acs/acs5.html"},{"key":"hud_zip","name":"HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback","release":"ZIP-CBSA 2025Q4 + SAFMR FY2026","pulledAt":"2026-07-26","url":"https://www.huduser.gov/portal/datasets/usps_crosswalk.html"},{"key":"realtor_county","name":"Realtor.com Economic Research — county listing inventory","release":"county inventory 2026-06","pulledAt":"2026-07-28","url":"https://www.realtor.com/research/data/"},{"key":"redfin","name":"Redfin Data Center — inventory, days on market, and price cuts","release":"metro tracker through 2026-05-01","pulledAt":"2026-07-26","url":"https://www.redfin.com/news/data-center/"},{"key":"redfin_zip","name":"Redfin Data Center — ZIP resale activity and supply","release":"ZIP rolling 3 months through 2026-06-30; updated 2026-07-03","pulledAt":"2026-08-12","url":"https://www.redfin.com/news/data-center/"},{"key":"zillow_county","name":"Zillow ZHVI and ZORI — county values and rents","release":"county ZHVI/ZORI 2026-06","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori","name":"Zillow ZORI — metro market rents","release":"Metro_zori_uc_sfrcondomfr_sm_sa_month.csv","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_city","name":"Zillow ZORI — city market rents","release":"zillow_zori_city.csv","pulledAt":"2026-07-29","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_zip","name":"Zillow ZORI — ZIP market rents","release":"ZORI ZIP 2026-06","pulledAt":"2026-08-08","url":"https://www.zillow.com/research/data/"}],"history":[{"period":"2015-01-01","rent":2059.168176},{"period":"2015-02-01","rent":2078.180472},{"period":"2015-03-01","rent":2127.611223},{"period":"2015-04-01","rent":2098.808884},{"period":"2015-05-01","rent":2148.338985},{"period":"2015-06-01","rent":2147.606533},{"period":"2015-07-01","rent":2214.944018},{"period":"2015-08-01","rent":2197.847041},{"period":"2015-09-01","rent":2231.921681},{"period":"2015-10-01","rent":2248.730122},{"period":"2015-11-01","rent":2238.955369},{"period":"2015-12-01","rent":2269.723027},{"period":"2016-01-01","rent":2302.607003},{"period":"2016-02-01","rent":2348.289359},{"period":"2016-03-01","rent":2307.353899},{"period":"2016-04-01","rent":2315.696408},{"period":"2016-05-01","rent":2293.413173},{"period":"2016-06-01","rent":2318.014726},{"period":"2016-07-01","rent":2321.349463},{"period":"2016-08-01","rent":2353.813069},{"period":"2016-09-01","rent":2353.515637},{"period":"2016-10-01","rent":2375.399109},{"period":"2016-11-01","rent":2401.59938},{"period":"2016-12-01","rent":2414.690698},{"period":"2017-01-01","rent":2400.599546},{"period":"2017-02-01","rent":2390.762752},{"period":"2017-03-01","rent":2427.265127},{"period":"2017-04-01","rent":2444.632067},{"period":"2017-05-01","rent":2471.863492},{"period":"2017-06-01","rent":2498.196301},{"period":"2017-07-01","rent":2524.275366},{"period":"2017-08-01","rent":2514.463964},{"period":"2017-09-01","rent":2508.905897},{"period":"2017-10-01","rent":2495.335369},{"period":"2017-11-01","rent":2524.973212},{"period":"2017-12-01","rent":2544.113818},{"period":"2018-01-01","rent":2565.667767},{"period":"2018-02-01","rent":2550.652755},{"period":"2018-03-01","rent":2550.147253},{"period":"2018-04-01","rent":2572.698673},{"period":"2018-05-01","rent":2591.991901},{"period":"2018-06-01","rent":2583.251824},{"period":"2018-07-01","rent":2576.669598},{"period":"2018-08-01","rent":2604.912003},{"period":"2018-09-01","rent":2644.851092},{"period":"2018-10-01","rent":2675.314175},{"period":"2018-11-01","rent":2685.931737},{"period":"2018-12-01","rent":2699.23747},{"period":"2019-01-01","rent":2693.828768},{"period":"2019-02-01","rent":2684.966399},{"period":"2019-03-01","rent":2697.61312},{"period":"2019-04-01","rent":2693.598027},{"period":"2019-05-01","rent":2691.137262},{"period":"2019-06-01","rent":2702.062718},{"period":"2019-07-01","rent":2713.55596},{"period":"2019-08-01","rent":2711.618309},{"period":"2019-09-01","rent":2704.077854},{"period":"2019-10-01","rent":2703.542428},{"period":"2019-11-01","rent":2696.357998},{"period":"2019-12-01","rent":2693.64255},{"period":"2020-01-01","rent":2709.182855},{"period":"2020-02-01","rent":2743.835468},{"period":"2020-03-01","rent":2761.868722},{"period":"2020-04-01","rent":2766.066208},{"period":"2020-05-01","rent":2728.619361},{"period":"2020-06-01","rent":2721.057651},{"period":"2020-07-01","rent":2673.556125},{"period":"2020-08-01","rent":2664.553606},{"period":"2020-09-01","rent":2641.314621},{"period":"2020-10-01","rent":2632.026923},{"period":"2020-11-01","rent":2591.262015},{"period":"2020-12-01","rent":2611.385468},{"period":"2021-01-01","rent":2612.242792},{"period":"2021-02-01","rent":2615.378315},{"period":"2021-03-01","rent":2614.620696},{"period":"2021-04-01","rent":2620.228882},{"period":"2021-05-01","rent":2667.325238},{"period":"2021-06-01","rent":2696.302475},{"period":"2021-07-01","rent":2739.698935},{"period":"2021-08-01","rent":2771.0572},{"period":"2021-09-01","rent":2790.620344},{"period":"2021-10-01","rent":2828.469963},{"period":"2021-11-01","rent":2875.574669},{"period":"2021-12-01","rent":2907.187587},{"period":"2022-01-01","rent":2912.972429},{"period":"2022-02-01","rent":2914.733698},{"period":"2022-03-01","rent":2929.078027},{"period":"2022-04-01","rent":2962.711797},{"period":"2022-05-01","rent":2984.971847},{"period":"2022-06-01","rent":3007.72189},{"period":"2022-07-01","rent":3027.009283},{"period":"2022-08-01","rent":3044.825052},{"period":"2022-09-01","rent":3065.984472},{"period":"2022-10-01","rent":3072.279372},{"period":"2022-11-01","rent":3066.154853},{"period":"2022-12-01","rent":3045.688437},{"period":"2023-01-01","rent":3046.68798},{"period":"2023-02-01","rent":3056.55159},{"period":"2023-03-01","rent":3083.27298},{"period":"2023-04-01","rent":3081.488869},{"period":"2023-05-01","rent":3072.61921},{"period":"2023-06-01","rent":3073.816229},{"period":"2023-07-01","rent":3076.420795},{"period":"2023-08-01","rent":3071.184328},{"period":"2023-09-01","rent":3072.430579},{"period":"2023-10-01","rent":3094.121363},{"period":"2023-11-01","rent":3116.058967},{"period":"2023-12-01","rent":3128.961369},{"period":"2024-01-01","rent":3111.483089},{"period":"2024-02-01","rent":3125.700364},{"period":"2024-03-01","rent":3132.725973},{"period":"2024-04-01","rent":3164.279887},{"period":"2024-05-01","rent":3174.98402},{"period":"2024-06-01","rent":3170.40167},{"period":"2024-07-01","rent":3167.180854},{"period":"2024-08-01","rent":3167.049276},{"period":"2024-09-01","rent":3182.138107},{"period":"2024-10-01","rent":3173.191742},{"period":"2024-11-01","rent":3192.403897},{"period":"2024-12-01","rent":3191.911828},{"period":"2025-01-01","rent":3241.436526},{"period":"2025-02-01","rent":3268.954668},{"period":"2025-03-01","rent":3264.332168},{"period":"2025-04-01","rent":3230.677117},{"period":"2025-05-01","rent":3232.871569},{"period":"2025-06-01","rent":3238.621563},{"period":"2025-07-01","rent":3250.338902},{"period":"2025-08-01","rent":3264.197175},{"period":"2025-09-01","rent":3262.673176},{"period":"2025-10-01","rent":3271.969643},{"period":"2025-11-01","rent":3261.135247},{"period":"2025-12-01","rent":3273.198784},{"period":"2026-01-01","rent":3257.595834},{"period":"2026-02-01","rent":3242.208809},{"period":"2026-03-01","rent":3250.870305},{"period":"2026-04-01","rent":3274.652488},{"period":"2026-05-01","rent":3283.748086},{"period":"2026-06-01","rent":3295.139376}],"historySummary":{"pointCount":138,"firstPeriod":"2015-01-01","latestPeriod":"2026-06-01","coverageMonths":138,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":3238.621563,"endRent":3295.139376,"change":0.017451193941797394,"cagr":0.017451193941797394},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":3073.816229,"endRent":3295.139376,"change":0.07200272576867839,"cagr":0.023446856818559514},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":2696.302475,"endRent":3295.139376,"change":0.22209559444920957,"cagr":0.040928826637592675}},"maxDrawdown":-0.06319595405722134,"annualizedVolatility":0.02785113561395648,"consecutiveReturnCount":137}}